I prefer facts over myths and assumptions. One of the consistent myths in the personal debt arena is that more financial literacy classes will keep consumers out of debt. I get it. It sounds logical but it’s like a great scam, based on some small bit of truth. The reality is that since the early …
Financial literacy – the most misunderstood and abused good intention. It is alarming how we love simple solutions for complex problems. We want politicians to solve our ills in a soundbite and we want money problems to go away with a class. The reality is neither of those solutions is ever going to work. I …
Members of the U.S. armed forces, Coast Guard, veterans, and their families face financial challenges often not adequately addressed by resources designed for the general public. Two leading nonprofit organizations are now working together to deliver financial education solutions to members of the military and their families in libraries across the country. The National Foundation …
Kids.gov recently published these comics designed to teach kids all about learning ways to save money. The first is aimed at younger kids with an interesting message that you can buy stuff you really want if you use your own money. It struck me as an interesting message since it seems to be a tacit …
One of my Twitter buddies, Thomas Fox (@thomasjfox) sent a tweet about an article titled “Financial Ignorance is Not Bliss.” When Americans were questioned by the National Foundation for Credit Counseling, more than 41 percent of adults gave themselves a grade of C, D or F when it came to their understanding of financial literacy. …
I’m really excited we’ve been able to help fund financial education for children this year. When I say ‘we’ I mean it. As a result of ad revenue that is generated by people visiting GetOutOfDebt.org and clicking on ads and the support given by Cambridge Credit Counseling to support my work, we’ve generate additional funds …
In what feels like a never-ending series of debunking articles about financial topics, like why a 15-year mortgage is less safe than a 30-year mortgage, here is another installment, this time about financial education. Typically financial education classes are touted as some sort of inoculation that can be given to high school students to prepare …